Best Buy Quarterly Comparable Store Sales - Continuing Operations

Fiscal Years 2011-2014

January Fiscal Year-End
Enterprise Comparable Store Sales
Fiscal Year
Fiscal 2014

1st Qtr
(1.3%)

2nd Qtr
(0.6%)

3rd Qtr
0.3%

4th Qtr

Year

Fiscal 2013

(5.2%)

(3.3%)

(5.1%)

(1.4%)

(3.5%)

Fiscal 2012*

(3.1%)

(3.8%)

(0.3%)

(1.0%)

(1.9%)

Fiscal 2011*

5.1%

0.7%

(2.8%)

(5.0%)

(1.2%)

Domestic Comparable Store Sales

Fiscal Year
Fiscal 2014

1st Qtr
(1.1%)

2nd Qtr
(0.4%)

3rd Qtr
1.7%

4th Qtr

Year

Fiscal 2013

(3.7%)

(1.6%)

(4.0%)

0.9%

(1.7%)

Fiscal 2012*

(3.8%)

(4.1%)

0.1%

(1.1%)

(2.1%)

Fiscal 2011*

4.7%

0.0%

(3.9%)

(5.2%)

(1.7%)

International Comparable Store Sales

Fiscal Year
Fiscal 2014

1st Qtr
(2.8%)

2nd Qtr
(1.8%)

3rd Qtr
(6.4%)

4th Qtr

Year

Fiscal 2013

(13.4%)

(11.3%)

(10.3%)

(12.6%)

(12.0%)

Fiscal 2012*

0.7%

(2.2%)

(2.0%)

(0.5%)

(1.0%)

Fiscal 2011*

7.7%

5.2%

3.3%

(3.6%)

2.0%

Our comparable store sales is comprised of revenue from stores operating for at least 14 full months as well
as revenue related to call centers, Web sites and our other comparable sales channels. Revenue we earn
from sales of merchandise to wholesalers or dealers is not included within our comparable store sales
calculation. Relocated stores, as well as remodeled, expanded and downsized stores closed more than 14
days, are excluded from the comparable store sales calculation until at least 14 full months after reopening.
Acquired stores are included in the comparable store sales calculation beginning with the first full quarter
following the first anniversary of the date of the acquisition. The portion of our calculation of the comparable
store sales percentage change attributable to our International segment excludes the effect of fluctuations in
foreign currency exchange rates. The method of calculating comparable store sales varies across the retail
industry. As a result, our method of calculating comparable store sales may not be the same as other retailers
methods.

* In the first quarter of fiscal 2013, we changed our fiscal year-end from the Saturday nearest the end of
February to the Saturday nearest the end of January. The quarterly and annual comparable store sales for
fiscal 2011 - 2012 have been recast to conform to the new fiscal year.

2005
2006
E-Commerce &
24.20%
Online Auctions
21.70%
Business Coaching
8.00%
9.10%
Consumer Electronics
4.10% Stores
4.40%
11.76%

12.45%

2007
28.80%
8.40%
-1.80%

2008
15.60%
-4.00%
-3.10%

2009
3.90%
-1.80%
-11.30%

2010
13.80%
-1.50%
-3.90%

2011
14.10%
1.20%
-3.70%

2012
16.60%
1.50%
-2.80%

16.49%

11.38%

12.47%

10.39%

1.16%

0.86%

2013
10.00%
1.80%
-1.00%

Projected Indu
12%
10%
8%
6%
4%
2%
0%
-2%

2013

2014

E-Commerce & Online Auctions

2014
7.00%
4.40%
1.70%

2015
5.70%
3.70%
2.10%

2016
6.00%
4.10%
2.00%

2017
6.00%
3.20%
1.60%

2018
6.10%
4.10%
1.40%

Projected Industry Growth

ne Auctions

2015

2016

Business Coaching

2017

2018

Consumer Electronics Stores

Best Buy
Amazon
Walmart

2004
25.00%
23.88%
23.20%

2005
25.25%
23.15%
23.70%

2006
23.68%
24.02%
23.80%

2007
25.05%
22.93%
24.20%

Best Buy
Amazon
Walmart

2004
20.18%
14.74%
17.36%

2005
19.93%
12%
13.27%
17.75%

2006
18.42%
13.62%
17.97%

2007
2008
2009
2010
2011
Operating
Margin
without
R&D
19.72% 18.84% 18.45% 19.96% 19.87%

2004
Best Buy
Amazon
Walmart

Best Buy
Amazon
Walmart

Best Buy
Amazon
Walmart

10%

2005

13.12%
18.36%

2008
24.40%
22.60%
24.40%

12.67%
18.56%

2009
23.85%
22.28%
24.50%

12.50%
18.90%

2010
24.43%
22.57%
25.40%

17.54%
19.50%

2011
24.47%
22.35%
25.30%

12.86%
19.21%

2012
25.14%
22.44%
25.00%
2012
20.54%
14.28%
19.08%

8%
11.76%

2006

2007

2008

2009

2010

2011

2012

17.19%

12.45%

16.49%

11.38%

12.47%

10.39%

1.16%

0.86%

33.84%

31.49%

22.67%

26.16%

38.50%

29.19%

27.88%

39.56%

40.56%

9.61%

10.45%

8.65%

7.08%

0.64%

3.34%

5.95%

6%

4.93%

11.33%

2004

2005

2006

2007

2008

2009

2010

2011

2012

7.3

7.89

7.67

7.47

7.38

6.98

7.19

7.33

6.61

16.14

13.75

12.34

11.44

11.06

11.46

10.63

9.89

9.1

7.72

7.84

7.8

8.02

8.32

8.79

9.08

8.7

2004

2005

4.82%

4%
2%
0%

2004

2005

2006

2007

2008

2008

2009

2010

2011

2012

2013

2007

5.31%

5.26%

5.33%

9.09%

9.99%

10.40%

9.81%

9.93%

9.78%

4.61%

9.18%

7.84%

5.81%

5.93%

5.87%

5.88%

5.81%

5.62%

5.87%

6.05%

5.94%

Best
Buy
5.56%

2009

2010

2006

2011

2012

Amazon 4.15% Walmart

5.40%
4.50%

4.21%

2013 TTM
24.80% 24.07%
24.75% 26.55%
24.90% 24.90%
2013 TTM
20.20% 20.51%
15.92% 16.86%
18.94%
19.00%
9.53%

Gross Margin Comparison

27%

26.55%

26%
24.90%

25%

24.07%
24%
23%

5.91%

22%

2013

21%

6.56
8.34
0.58%

20%

8.34

2004
2013

2014

2013

2014

2.14%

0.58%

8.58%

9.53%

5.93%

5.91%

2005

2006

2007

2008

Best Buy

2009

2010

Amazon

2011

2012

2013

TTM

Walmart

SG&A Comparison
22%

20.51%

20%

19.00%

18%

16.86%

16%

Inventory Turnover Comparison

14%
18
12%

16

10%
2004

14
2005
12

2006

2007

Best Buy

10

2008

2009

2010

Amazon

2011

2012

2013

TTM

Walmart

8
6
4
2
0
2004

2005

2006

2007
Best Buy

2008

2009

Amazon

2010

2011

Walmart

Best Buy

Amazon

Walmart

26.55%

24.90%
24.07%

Revenue Growth Year-over-Year

45%

40.56%

40%
35%
30%
25%
20%
TTM

15%
10%

5.95%

5%

0.86%

0%
2004

19.00%
16.86%

omparison

TTM

8.34
6.56

Walmart

2006

Best Buy

20.51%

2011

2005

2012

2013

2007

2008
Amazon

2009

2010

2011
Walmart

2012

Walmart